Fulton Bank N.A. Has $2.04 Million Stock Holdings in ConocoPhillips (NYSE:COP)


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Fulton Bank N.A. raised its holdings in ConocoPhillips (NYSE:COP) by 11.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,516 shares of the energy producer’s stock after purchasing an additional 3,802 shares during the quarter. Fulton Bank N.A.’s holdings in ConocoPhillips were worth $2,040,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in ConocoPhillips by 23.2% during the 4th quarter. Bank of New York Mellon Corp now owns 16,253,068 shares of the energy producer’s stock worth $649,960,000 after buying an additional 3,057,307 shares during the period. Boston Partners lifted its holdings in ConocoPhillips by 17.8% during the 4th quarter. Boston Partners now owns 16,005,135 shares of the energy producer’s stock worth $640,046,000 after buying an additional 2,417,177 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in ConocoPhillips by 12.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,872,369 shares of the energy producer’s stock worth $554,756,000 after buying an additional 1,569,580 shares during the period. Lazard Asset Management LLC lifted its holdings in ConocoPhillips by 29.2% during the 4th quarter. Lazard Asset Management LLC now owns 12,819,227 shares of the energy producer’s stock worth $512,639,000 after buying an additional 2,899,393 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in ConocoPhillips by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,490,872 shares of the energy producer’s stock worth $219,580,000 after buying an additional 80,824 shares during the period. 72.87% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE COP opened at $51.42 on Thursday. ConocoPhillips has a twelve month low of $27.53 and a twelve month high of $61.14. The stock’s 50 day moving average price is $54.01 and its 200-day moving average price is $42.67. The company has a market capitalization of $69.53 billion, a PE ratio of -46.35, a PEG ratio of 10.03 and a beta of 1.85. The company has a quick ratio of 2.16, a current ratio of 2.38 and a debt-to-equity ratio of 0.48.

ConocoPhillips (NYSE:COP) last announced its earnings results on Monday, February 1st. The energy producer reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.06. ConocoPhillips had a negative return on equity of 0.02% and a negative net margin of 5.66%. The firm had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $4.69 billion. During the same quarter in the previous year, the business earned $0.76 EPS. As a group, research analysts expect that ConocoPhillips will post -0.9 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 1st. Investors of record on Friday, February 12th were paid a $0.43 dividend. The ex-dividend date of this dividend was Thursday, February 11th. This represents a $1.72 annualized dividend and a yield of 3.35%. ConocoPhillips’s payout ratio is 47.91%.

COP has been the topic of several recent research reports. The Goldman Sachs Group assumed coverage on ConocoPhillips in a report on Wednesday, February 3rd. They set a “buy” rating on the stock. Truist lifted their price objective on ConocoPhillips from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, December 31st. Smith Barney Citigroup lifted their price objective on ConocoPhillips from $39.00 to $50.00 in a research report on Wednesday, December 9th. Morgan Stanley lifted their price objective on ConocoPhillips from $58.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 17th. Finally, Barclays lifted their price objective on ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, January 14th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. ConocoPhillips presently has a consensus rating of “Buy” and a consensus price target of $53.88.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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